5 Steps to Improve Your Credit Score

A couple of points in your credit score can make a huge difference when you need a home or auto loan. In fact, it can be the determining factor when hunting for your new car. Your creditworthiness will be established by looking at your payment records, debt, length of credit history, types of credit and other factors. Each one of these items can be improved by following our easy tips.

Check your credit report periodically and correct any mistakes.

Infractions remain on your record for 7 years (bankruptcy for 10). After that, they should be removed. Remember, you are entitled to receive one free online credit report per year.

Dispute negative information in your credit report.

Even if the negative information is accurate, there are ways to have negative entries deleted. If a past-due account has been paid off or kept up-to-date for at least a year, you can request to have it removed if there’s a reasonable explanation.

Request only credit you really need.

Too many inquiries made by creditors can reduce your score. If you’re comparison shopping for credit, try to make all inquiries in a short period of time. The credit agencies’ software will understand you’re looking for a single loan.

Pay your bills on time and don’t borrow too much.

If unexpected circumstances keep you from paying bills, contact your creditors as soon as possible. Talking and working out a payment arrangement with a legitimate credit counselor can save your credit reputation. Keep in mind that the more you borrow, the more concerned new lenders will be when you ask to borrow more. Be sensible.

If you’re really stuck, get help.

Several services and law firms can help you with counseling or navigating the processes of repairing your credit.

When your credit score has been optimized, it’s time to get quotes for the car of your dreams. Don’t visit any dealerships before you request quotes from them online. It’s easy and secure. Click here to learn more.

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